FG introduces Stamp Duty On House Rent, C Of O, Others
Nigerians will now be required to pay stamp duty on house rent agreements and Certificate of Occupancy (C of O) in line with a new directive of Federal Inland Revenue Service (FIRS).
Abdullahi Ahmad, a spokesperson for the FIRS made the disclosure in a statement in Abuja on Thursday, July 2, Daily Trust reported.
He advised Nigerians to ensure that documents pertaining to rent or lease agreements for their homes or offices are subjected to authentication with the new FIRS adhesive stamp duty.
Ahmad also said other common business-related transaction instruments should also be subjected to stamp duty.
He pointed out that the new FIRS adhesive stamp duty is necessary in order to give the instruments the force of law and make them legally binding on all parties involved in such transactions.
The spokesperson disclosed that the new FIRS adhesive stamp duty was recently introduced by the government.